Friday, April 12, 2013

Against the background of rising confidence in the dragmetallam and reduce faith in the dollar States promote legitimization of ingots

(Bloomberg), distrust of the Federal Reserve system, and concern that the United States dollar could lose value, pushing more than a dozen States to recognize gold and silver coins as legal tender.

For Utah, which in the year 2011 as the currency allowed the use of bullion coins, followed by Arizona. Similar bills advance in Kansas, South Carolina and other States.

Professor of political science at the University of Central Oklahoma Lauren Gatč said that these measures can be considered rather symbolic — in Utah for gold products still cannot pay. They reflect the continuing concern about the dollar, increasing the FED'S unconventional measures in recent years to stabilize the economy.

"These laws indicate broad monetary policies, and the fact that Bernanke is doing," said Gatč. "There is concern that the Government, along with the FED'S Bernanke or follow a policy which will lead to the collapse of the dollar. That's what is behind all this. "

In Texas politics at the local level are considering measures to create the Texas repository for storing gold bullion worth nearly a billion dollars in a bank vault in New York City. Gold is owned by Utimco (University of Texas Investment Management Co.), which in the year 2011 has guaranteed shipment 6.643 bullion amid fears that demand would exceed supply.

Utah State law applies only to the United States produced coins, while other States had not quite decided yet so fit, privately minted coins.

A supporter of the Bill, Senator Chester Krandell said, "I think worth looking at what is going on, the weight of money that the FED prints, and in my opinion, anyone should start to worry. Gold and silver are used for a long time, people they know, and we must give them the opportunity to use them. "